Willis completes acquisition of Charles Monat

Willis Group, the global risk adviser, insurance and reinsurance broker, has completed its acquisition of specialist broker Charles Monat.

Following the announcement in January 2014, Charles Monat’s operations will now be combined with Willis’ expanding Global Wealth Solutions (GWS) practice, enhancing Willis’ teams in Hong Kong, Singapore and Zurich and growing Willis’ footprint throughout the Asian and wider global markets.

Yves Guélat, chief executive officer of Willis Global Wealth Solutions, said: “Receiving regulatory approval is a key milestone in this process and we are grateful for the assistance of the Monetary Authority of Singapore. The integration of Mr Charles Monat and his 60-strong team in to Willis’ GWS practice provides us with improved services for all our clients and will help us to build our capabilities and presence in this growing global market.”

Charles Monat, newly-appointed chairman of Willis Global Wealth Solutions, said: “This is an exciting time for Charles Monat Limited’s employees and clients. Combining our heritage and expertise, particularly in fast-growing Asian markets, with Willis’ local and global network of professionals and products is good news for clients. We look forward to working with our new colleagues throughout the Willis Group to grow our specialist offering and customer base.”

Phil Bone has been appointed as a member of the supervisory board of Willis GWS in his role as global chief placement officer Willis GWS.